2 Summer 2006FDIC Consumer News
Saving money may not be as much fun
as spending money, but it’s still
important to do. When you save your
money, you can use it later to buy fun
things (DVDs, video games, clothes)
as well as pay for serious things like
college or a car. FDIC Consumer
News, published by the Federal
Deposit Insurance Corporation, has
produced this guide to help teens get
good grades in money management.
Why is the FDIC, a government
agency best known for protecting bank
accounts, publishing a money guide
for teens? It’s because consumer
education is a big part of what the
FDIC does to protect the public.
We know that the more people
understand how to save and manage
money, the more likely they are to
make smart decisions that affect their
finances and their future.
Although the FDIC’s financial
education programs are mostly for
adults, this special guide will help you
learn how to make good decisions
about your money, right from the
start.
Teens have access to more money than
ever before, thanks to allowances and
gifts and, for many, income from
chores, summer jobs or part-time jobs.
Teens also are becoming more
responsible for handling money and
making decisions—for everything
from small, everyday purchases to
bigger-ticket items (such as a bike or a
camera) to saving for college.
“This guide wouldn’t be necessary if
money really did grow on trees or if
The Bank of Mom and Dad was open
24 hours a day and offered unlimited
withdrawals, but this is the real
world,” said Paul Horwitz, an FDIC
Community Affairs Specialist.
In this guide you’ll find tips and
information on how to:
• Save and earn money;
• Decide where to keep your money;
• Spend money wisely;
• Borrow money;
• Protect against identity theft;
• Be charitable; and
• Get more help about money matters
from government agencies, banks,
businesses, professional associations,
schools, parents and other sources.
There’s also a quiz on the back page
that you can take to find out how
much you know about saving and
managing your money.
If you consistently make smart
decisions about your money, you can
have more of it for what you truly
need. We hope one of your first
decisions will be to read our guide.
Start Smart: Money Management for Teens
How to save, spend and protect your cash
Inside
Simple, Everyday Things You Can
Do to Save Money
Page 3
Shopping for a Bank Account
Page 4
Risks, Rewards of Investing Money
Page 5
5 Ways to Cut Spending ... and
Still Get to Do and Buy Cool Things
Page 6
Borrowing Money: A Responsibility to
Be Taken Seriously
Page 7
Be on Guard Against Identity Theft
Page 8
What to Know About the FDIC
Page 9
Test Your Money Management IQ
Back Page
Saving money may not be as much fun
as spending money, but it’s still
important to do. When you save your
money, you can use it later to buy fun
things (DVDs, video games, clothes)
as well as pay for serious things like
college or a car. FDIC Consumer
News, published by the Federal
Deposit Insurance Corporation, has
produced this guide to help teens get
good grades in money management.
Why is the FDIC, a government
agency best known for protecting bank
accounts, publishing a money guide
for teens? It’s because consumer
education is a big part of what the
FDIC does to protect the public.
We know that the more people
understand how to save and manage
money, the more likely they are to
make smart decisions that affect their
finances and their future.
Although the FDIC’s financial
education programs are mostly for
adults, this special guide will help you
learn how to make good decisions
about your money, right from the
start.
Teens have access to more money than
ever before, thanks to allowances and
gifts and, for many, income from
chores, summer jobs or part-time jobs.
Teens also are becoming more
responsible for handling money and
making decisions—for everything
from small, everyday purchases to
bigger-ticket items (such as a bike or a
camera) to saving for college.
“This guide wouldn’t be necessary if
money really did grow on trees or if
The Bank of Mom and Dad was open
24 hours a day and offered unlimited
withdrawals, but this is the real
world,” said Paul Horwitz, an FDIC
Community Affairs Specialist.
In this guide you’ll find tips and
information on how to:
• Save and earn money;
• Decide where to keep your money;
• Spend money wisely;
• Borrow money;
• Protect against identity theft;
• Be charitable; and
• Get more help about money matters
from government agencies, banks,
businesses, professional associations,
schools, parents and other sources.
There’s also a quiz on the back page
that you can take to find out how
much you know about saving and
managing your money.
If you consistently make smart
decisions about your money, you can
have more of it for what you truly
need. We hope one of your first
decisions will be to read our guide.
Start Smart: Money Management for Teens
How to save, spend and protect your cash
Inside
Simple, Everyday Things You Can
Do to Save Money
Page 3
Shopping for a Bank Account
Page 4
Risks, Rewards of Investing Money
Page 5
5 Ways to Cut Spending ... and
Still Get to Do and Buy Cool Things
Page 6
Borrowing Money: A Responsibility to
Be Taken Seriously
Page 7
Be on Guard Against Identity Theft
Page 8
What to Know About the FDIC
Page 9
Test Your Money Management IQ
Back Page